Spaceship reaches more than $1 billion in funds under management (FUM)

Australian fintech news and information

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The Spaceship business has now hit a new milestone, reaching more than $1 billion in funds under management (FUM), cementing its position as a leader in the local micro-investing space.

Spaceship was launched in 2017 and offers both investment and superannuation products, specifically aimed at younger Australians under the age of 45.

Spaceship CEO Andrew Moore said the company was appealing to a new generation, eager to take control of their finances.

“Spaceship is very pleased to have introduced investing to hundreds of thousands of younger Australians, who have seen the benefits of backing a diversified group of domestic and international companies that they know and use every day,” Mr Moore said.

“Our most popular age group is aged 20-39 years old, who are investing an average $50 a week into Spaceship Voyager portfolios.”

“Spaceship Voyager balances range widely across the spectrum, with the average balance sitting around $2,500, reflecting our broad range of customers.”